Mt. Gox Trustee Rehabilitation Plan Prolonged

by in Cryptocurrency News

Mt. Gox rehabilitation plan postponed

Mt. Gox crypto exchange is known for encountering the largest crypto hack ever. As stated, the exchange lost a total of 1.35 million Bitcoin in two hacks in 2011 and then in 2014. It was based in Shibuya, Tokyo. In 2014 the organization closed its website and exchange platform applying for bankruptcy protection from borrowers.

Mt. Gox civil restoration operations then began in 2018, allowing creditors to get refunds in their original crypto holdings rather than the fiat value at the time of the exchange's flop. The question of how and when the company will give the capitals is still being discussed.

The trustee rehabilitation plan of Mt. Gox is supposed to come into existence on December 15. Nobuaki Kobayashi, the rehabilitation trustee of Mt. Gox explained the reason saying that there are objects that require closer examination concerning the rehabilitation program, it has become necessary to extend the submission deadline.

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The due date has been postponed several times.